U.S. Home Builder Sentiment Rises 5 Points In May

The National Association of Home Builders (NAHB)/Wells Fargo housing market index rose to 29 points, the strongest reading since May 2007, from 24 in April. In May, three out of four regions posted improving builder sentiment. The Northeast registered a 6-point gain to 32, and the data showed 5-point gains to 27 and 28 in the Midwest and South, respectively. The West region saw a 2-point decline, to 29 points in May. The better than expected report offers markets good news for the U.S. housing sector.

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